Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Carrizo Oil & Gas, Inc. is a Houston-based energy company actively engaged in the exploration, development, exploitation and production of oil and natural gas primarily in proven trends in the Barnett Shale area in North Texas and along the Texas and Louisiana onshore Gulf Coast regions. Carrizo controls significant prospective acreage blocks and utilizes advanced three-D seismic techniques to identify potential oil and gas reserves and drilling opportunities. “

Other equities research analysts have also issued research reports about the company. Jefferies Group LLC reiterated a “buy” rating and issued a $25.00 target price (down previously from $64.00) on shares of Carrizo Oil & Gas in a research report on Tuesday, August 29th. BMO Capital Markets set a $20.00 target price on Carrizo Oil & Gas and gave the company a “buy” rating in a research report on Saturday, August 12th. Williams Capital set a $35.00 target price on Carrizo Oil & Gas and gave the company a “buy” rating in a research report on Tuesday, August 8th. Mizuho reiterated a “buy” rating and issued a $32.00 target price on shares of Carrizo Oil & Gas in a research report on Friday, June 30th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $23.00 target price on shares of Carrizo Oil & Gas in a research report on Friday, September 15th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Carrizo Oil & Gas presently has a consensus rating of “Hold” and an average price target of $33.74.

Carrizo Oil & Gas (CRZO) traded down 0.42% during trading on Tuesday, reaching $16.44. 3,191,108 shares of the company’s stock traded hands. The firm’s market cap is $1.34 billion. The company has a 50 day moving average of $14.52 and a 200 day moving average of $19.15. Carrizo Oil & Gas has a one year low of $11.10 and a one year high of $43.96.

Carrizo Oil & Gas (NASDAQ:CRZO) last issued its earnings results on Tuesday, August 8th. The oil and gas producer reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. The firm had revenue of $166.50 million for the quarter, compared to analyst estimates of $163.22 million. Carrizo Oil & Gas had a positive return on equity of 1,494.45% and a negative net margin of 0.98%. Carrizo Oil & Gas’s revenue for the quarter was up 55.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Equities research analysts predict that Carrizo Oil & Gas will post $1.09 EPS for the current year.

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In other Carrizo Oil & Gas news, Director Steven A. Webster bought 25,000 shares of Carrizo Oil & Gas stock in a transaction dated Monday, August 28th. The stock was acquired at an average cost of $12.67 per share, with a total value of $316,750.00. Following the purchase, the director now directly owns 2,826,310 shares in the company, valued at approximately $35,809,347.70. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven A. Webster bought 75,000 shares of Carrizo Oil & Gas stock in a transaction dated Friday, September 8th. The shares were acquired at an average cost of $11.70 per share, with a total value of $877,500.00. Following the completion of the purchase, the director now owns 2,786,310 shares in the company, valued at $32,599,827. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 431,600 shares of company stock valued at $5,602,306. Corporate insiders own 6.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC raised its stake in shares of Carrizo Oil & Gas by 89.5% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,659,107 shares of the oil and gas producer’s stock worth $46,322,000 after buying an additional 1,256,160 shares during the period. Phocas Financial Corp. raised its stake in shares of Carrizo Oil & Gas by 4.7% during the 2nd quarter. Phocas Financial Corp. now owns 212,352 shares of the oil and gas producer’s stock worth $3,699,000 after buying an additional 9,481 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in shares of Carrizo Oil & Gas by 260.8% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 102,641 shares of the oil and gas producer’s stock worth $1,787,000 after buying an additional 74,193 shares during the period. Verition Fund Management LLC acquired a new position in shares of Carrizo Oil & Gas during the 2nd quarter worth approximately $467,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Carrizo Oil & Gas during the 2nd quarter worth approximately $288,000.

Carrizo Oil & Gas Company Profile

Carrizo Oil & Gas, Inc is an energy company. The Company is engaged in the exploration, development and production of oil and gas from resource plays located in the United States. Its operations are focused in proven, producing oil and gas plays in the Eagle Ford Shale in South Texas, the Delaware Basin in West Texas, the Utica Shale in Ohio, the Niobrara Formation in Colorado, and the Marcellus Shale in Pennsylvania.

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Analyst Recommendations for Carrizo Oil & Gas (NASDAQ:CRZO)

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